Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Announces Initiatives to Transform into Leading Multinational Cannabiotech Company

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company, today outlined its optimism for the new year, execution of existing plans and new initiatives as the company evolves in response to constant, rapid changes in the cannabis sector on its path to becoming a leading multinational cannabiotech. Among the highlights, the company reported that it expects to file for approval of its Notice of New Cannabis Product (“NNCP”) with Health Canada later this week. NNCP approval is a mandatory prerequisite to the launch of sales of Grapefruit’s patented Hourglass time-release, technology-powered THC+CBD-infused topical delivery cream in licensed retail outlets throughout Canada. “2021 was a very complicated year for Grapefruit as we struggled with the difficulties engendered by the simultaneous glut of cannabis flowers, reduction of demand and logistical disruptions caused by the worldwide pandemic,” said Bradley J. Yourist, Grapefruit’s CEO and co-founder. “Nevertheless, the company exhibited its fundamental value and resilience by emphasizing further development of our disruptive Hourglass technology and line of Hourglass-based products. Recently, we have been very busy organizing our strategic corporate plans and initiatives for the new year and beyond. We have put in place foundational initiatives that will transform Grapefruit into a multinational cannabiotech company. While we recognize that our share price has softened over the last few months, we made a conscious decision to not issue any press releases until we felt the time was right. However, now our new initiatives have been formulated and have commenced, our corporate plans are in place, and we will be updating our shareholders with respect to the above articulated points on an ongoing consistent basis so they can share in the excitement and growth of Grapefruit throughout 2022.”

To view the full press release, visit https://cnw.fm/jYHe5

About Grapefruit USA Inc.

Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs. For more information about the company and its operations, visit www.GrapefruitBlvd.com.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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CannabisNewsBreaks – Marijuana Company of America Inc. (MCOA) Inks Distribution Deal with Realize Hemp Drinks

Marijuana Company of America (OTC: MCOA), a diversified holding company with operations and investments throughout the cannabis industry, and cDistro, its wholly owned subsidiary, has entered an agreement with Realize Hemp Drinks. The agreement outlines plans to begin nationwide distribution of the award-winning Realize Raspberry Drink Mix infused with CBD & THC. cDistro distributes CBD brands, including smoke- and vape-shop-related products to wholesalers, c-stores, specialty retailers and consumers throughout North America. In addition to the Raspberry Drink Mix, cDistro will also be selling and distributing the new Citrus-Mango Drink Mix. Made with CBD and THC, both drinks contain less than 0.3% THC and are legal under the 2018 farm bill. “We are excited for cDistro to begin its sales and distribution efforts on behalf of Realize Hemp Drinks,” said Marijuana Company of America CEO and chair Jesus Quintero in the press release. “Once again as part of our new initiatives, this represents our growth, and the overall role we play as an intrinsic part of the future in the cannabis marketplace. We are thrilled to introduce innovative new products to the cannabis community and directly to cDistro’s nationwide retail customers. As the cannabis market continues its expansion into various sectors, we are poised to meet the needs of the market at every point.”

To view the full press release, visit https://cnw.fm/nKDyZ   

About Marijuana Company of America Inc.

Marijuana Company of America operates and invests in the cannabis sector directly. The company’s wholly owned operations include the following: CDistro, one of the THC, hemp and CBD cannabis industries’ fastest-growing distribution companies; hempsmart(TM), a premium CBD company; and VBF Brands Inc., a cannabis nursery cultivation facility in Salinas, California, that is a cultivator and distributor utilizing its own growing systems to produce desirable cannabis clones. The company’s core mission is to leverage its experience and access to capital to identify and invest in acquisitions with unique growth potential in the cannabis and CBD marketplace. For more information about this company, visit www.MarijuanaCompanyofAmerica.com.  

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) to Centralize Distribution for ‘House of Premium Brands’ in Michigan

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) is a multistate cannabis operator and house of premium brands. The company, via its RWB Michigan LLC wholly owned subsidiary, has closed on a lease assignment for a 15,000-square-foot manufacturing/processing and distribution facility in Warren, Michigan, and has been issued both medical and adult use (aka “recreational”) licenses. “This Warren facility allows us to centralize distribution for our ‘house of premium brands’ in Michigan and finally report all of our Platinum Vape(TM) wholesale sales on a much less confusing and straightforward basis,” said RWB CEO and Chairman Brad Rogers. “We will be expanding the wildly popular Platinum Vape brand to include gummies and chocolates to capitalize on the existing brand equity we command in Michigan. The facility provides the production capacity to expand sales of our award-winning brands from the 250+ Michigan dispensaries that carry them to the state’s 400+ dispensaries.”

To view the full press release, visit https://cnw.fm/zJfcN

About Red White & Bloom Brands Inc.

The company is positioning itself to be one of the top three multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California with respect to cannabis, and the U.S. and internationally for hemp-based CBD products. For more information about the company, visit www.RedWhiteBloom.com.

NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://cnw.fm/RWBYF

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

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420 with CNW — California Disburses $100M in Support of Cannabis Business Development

Last week, officials in California announced that the state had allocated $100 million in funding for the development of local cannabis markets, which would initially be used to help marijuana businesses become fully licensed. The California Department of Cannabis Control distributed the funds to 17 counties and cities where there are unequal numbers of provisional cannabis licenses. Some funding was also directed to areas with established social equity programs. This comes months after the department’s announcement that it was accepting applications for the local jurisdiction assistance grant program.

The temporary licensing category was scheduled to expire on Jan. 1, 2022, before the deadline was extended to afford localities additional time to meet environmental requirements and complete the permitting process. Nicole Elliott, director of the Department of Cannabis Control, stated that the grant funding being given to the local jurisdictions would help meet the needs of these communities as well as assist both the local and state governments to achieve their short-term and long-term goals.

The primary purposes of the funding include the following:

  • Assist in completion of environmental evaluations and new initiatives for renewable energy and water protection.
  • Facilitate the integration of IT systems to streamline license processing.
  • Provide funds for the hire of additional staff to process significant workloads associated with business transitions into the regulated marijuana market.

The department also provided examples of how different localities had proposed to use the funds. For instance, the county and city of San Francisco stated that they would use the funds to create new staff positions that would support the efficient and quick processing of marijuana permits. In its proposal, Los Angeles stated that it would use the funds to employ more personnel to administer California Environmental Quality Act processes as well as help licensees complete locally administered processes to achieve licensure annually.

Similarly, Long Beach proposed that it would  use a portion of the funding to support technology improvements, website design and training as well as hire consultants and staff to help streamline local processing applications and permitting processes. In a separate move, the Governor’s Office of Business and Economic Development plans to award $35 million for a Marijuana Equity Grants program for local jurisdictions, which has been designed to assist local equity program efforts to support equity licensees and applicants.

In New York, the governor announced last week that her administration would establish a public-private fund that would be used to promote social equity in New York’s growing cannabis market.

The entire cannabis industry in California, including players such as Cannabis Strategic Ventures Inc. (OTC: NUGS), may be happy that the state is taking steps to ease the formalization process of entities that have been finding it hard to regularize their operations in accordance with state law. This will level the playing field for all concerned.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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420 with CNW — CPG Trends That Marijuana Businesses Should Consider Implementing

Since the pandemic begun, there have been shifts in consumer purchasing habits with emerging technologies and packaging innovations such as digitization, remote analytics and AI leading to the development of a new level of company efficiencies. While not every packaging innovation can be applied to marijuana firms, some trends transforming the consumer packaged goods sector should be considered, including the following:

AI and Digitization

Digitization is helping improve product traceability and develop packaging automation efficiencies in the consumer packaged goods sector. The marijuana sector doesn’t have industry software solutions that allow them to collect, organize and analyze their packaging and production performance automatically. This addition would do all this while helping streamline operations significantly.

Contract packaging

Contract packaging allows companies that aren’t ready to financially invest in equipment to decrease packaging labor by contracting out some of their services to other entities. Contracting another business to assemble their goods into finished products allows companies to concentrate on other aspects of what they do. Contract packaging can also help save on costs.

More efficient packaging technologies

The objective of packaging automation in the consumer packaged goods sector is efficiency and speed. While marijuana product manufacturers don’t necessarily need to perform at the same speed as other sectors, efficiency is still important to automation practices.

As more automation companies continue to customize for marijuana needs, we may see the use of more efficient technology. Senior VP of ActionPac Scales & Automation Amelia Dishion stated that learning how to adapt automation equipment that is already in use to fit the needs of marijuana could help. Dishion gave the example of vertical bagging, which is a user-friendly, efficient and fast packaging process that uses flexible, thin packaging for various products.

Given that marijuana packaging regulations require a thick film of material for packaging, the machines could be adapted for marijuana regulations to enable them to package marijuana items such as pre-rolls and single-use grams.

Sustainability

A 2020 report by McKinsey shows that consumer packaged goods brands are focused on using biodegradable and recycled packaging options in response to consumer outcry on the impact of plastic packaging on the environment. While sustainable packaging hasn’t yet been adopted on a large scale in the marijuana industry, manufacturers may soon adopt it as the trend is expected to continue as coverage on environmental damage and climate change caused by consumerism grows and more steps are taken by countries around the globe to shift to a green economy.

There are signs that the marijuana industry is waking up to these CPG packaging principles given that companies such as Flora Growth Corp. (NASDAQ: FLGC) are already utilizing some of the techniques above to gain a competitive edge.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Leveraging DehydraTECH(TM) to Deliver More Effective Oral Medicine

Lexaria Bioscience Corp. (NASDAQ: LEXX), a global innovator of drug delivery platforms, is increasing the effectiveness of orally administered drugs. With oral absorption being the most convenient and widely used route for taking medications, decades of research have advanced the understanding of critical factors controlling oral bioavailability. Scientists are now better understanding the physiological function and formulation functionality that has been used in designing improved and more desirable oral medicine delivery through extensive research. Lexaria is accomplishing this through its patented DehydraTECH(TM) technology. “DehydraTECH improves the way that active pharmaceutical ingredients (‘APIs’) make their way into the bloodstream. This is achieved by promoting healthier ingestion methods and an increase in the effectiveness of fat-soluble active molecules,” explains a recent article. “Lexaria’s DehydraTECH can be summarized by these major benefits: speeds up delivery; increases bioavailability; increases brain absorption; improves drug potency; reduces drug administration costs; and masks unwanted taste. One of Lexaria’s recent human clinical trials (HYPER-H21-2) using DehydraTECH-processed cannabidiol (‘CBD’) evidenced reduced arterial stiffness. The discovery potentially broadens Lexaria’s application’s ability to treat cardiovascular and other diseases beyond hypertension.”

To view the full article, visit https://cnw.fm/UqEil

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids and nicotine by 5-10x and, in some instances with cannabinoids by as much as 27x compared to standard industry formulations, reduce time of onset from one to two hours to minutes, and mask unwanted tastes. The technology is also being evaluated for orally administered anti-viral drugs, non-steroidal anti-inflammatory drugs (“NSAIDs”), PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 23 patents granted and over 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

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CannabisNewsBreaks – Marijuana Company of America Inc.’s (MCOA) Strong Financial Performance Reflects Successful Diversification Capabilities, Organic Growth

Marijuana Company of America (OTC: MCOA) is uniquely positioned to benefit from the cannabis market’s growth and associated opportunities as more states and countries worldwide push for the legalization of cannabis. MCOA offers diverse operations that include its cDistro distribution company, as well as hempsmart(TM) and VBF brands, a premium CBD company and a cannabis nursery cultivation facility in Salinas, California, respectively. In addition, the company is building its portfolio of investments and joint ventures, representing the highest standards of professionalism and integrity in the legal cannabis and industrial hemp markets. “MCOA recently reported a significant milestone, reaching the highest quarterly revenue numbers since its inception, according to the company’s financial results report for the third quarter ending Sept. 30, 2021,” reads a recent article that also quotes MCOA CEO Jesus Quintero. “Our Q3 financial performance was strong and reflects our ability, despite being in a challenging environment, to execute on the strategy by diversifying within the cannabis industry through strategic acquisitions along with organic growth,” Quintero said. He further underlined that the company expects to drive continued growth across the entire business in the coming months.

To view the full article, visit https://cnw.fm/GFNLW

About Marijuana Company of America Inc.

Marijuana Company of America operates and invests in the cannabis sector directly. The company’s operations include C-Distro, one of the fastest growing distribution companies in the THC, Hemp and CBD cannabis industries, and hempsmart(TM), a premium CBD company. The company’s core mission is to leverage its experience and access to capital to identify and invest in acquisitions with unique growth potential. For more information, visit www.MarijuanaCompanyofAmerica.com.

NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

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420 with CNW — New Study Finds Cannabis Breathalyzers Provide Inaccurate Results

New research has found that cannabis breathalyzers are inconsistent in measuring THC impairment. THC (tetrahydrocannabinol) is the primary psychoactive compound in marijuana that induces a high. This compound usually binds with receptors in the brain that control mood and pain, among other feelings.

The study was carried out in Australia by University of Sydney researchers.

For their research, the investigators conducted an analysis of 28 studies on the concentration of THC in saliva and blood and driving performance. The studies included in the analysis focused on how THC divided attention and impacted an individual’s reaction time. These two skills are necessary for safe driving.

The idea of cannabis breathalyzers is based on alcohol breathalyzers, which are used to assess an individual’s blood alcohol levels. These devices are mostly used by law enforcement officers and administered on the road. Alcohol breathalyzers have been used efficiently for a while now to provide relatively accurate evaluations on intoxication levels and how they impact a person’s driving skills.

However, marijuana breathalyzers don’t seem to be doing the same in providing accurate levels of THC impairment. The researchers’ analysis showed that the link between driving performance and THC impairment was inconsistent. Despite this inconsistency, the researchers also discovered strong connections between impairment and levels of THC in inexperienced marijuana users. However, once marijuana users used the herb several times in a week, these connections disappeared.

In their report, the lead author of the study, Dr. Danielle McCartney, stated that higher concentrations of THC in the blood were weakly linked to increased impairment in occasional marijuana users while no notable relationship was found in regular users of marijuana. McCartney noted that this finding suggests that oral and blood fluid THC concentrations are not the best indicators of marijuana-THC-induced impairment.

Prior studies have also found that THC intoxication presents differently in individuals, as a person who is experienced with marijuana may have the same THC levels in their blood as a person who is  inexperienced with it. This means that while the compound can impair an individual’s driving skills, the two individuals will likely have different responses to the drug and how impaired they are by it.

Cannabis breathalyzers were considered to be a solution for solving driving while under the influence of THC, which is an issue that many associate with cannabis legalization. However, this study has highlighted that the devices need to measure a different biomarker in order to provide an accurate assessment of intoxication, as at the moment, they can only prove that an individual has consumed THC.

The controversy over how to ascertain that someone is driving while impaired by marijuana is in a way similar to the inconsistencies that cannabis beverage makers such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) have been facing regarding how many infused drinks a customer can buy at a go while adhering to the total THC concentration limit set by Health Canada as the marijuana laws were formulated.

NOTE TO INVESTORS: The latest news and updates relating to BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) are available in the company’s newsroom at http://cnw.fm/BVNNF

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — Report Finds State-Legal Cannabis Markets Have Generated $10B in Taxes

Cannabis is without a doubt one of the fastest-growing industries in America. Despite being relatively young, America’s state-legal cannabis industry has been quite lucrative, generating billions of dollars in revenue and creating hundreds of thousands of new job opportunities. According to a newly released report on the industry, marijuana has been extremely kind to state coffers; since 2014, cannabis sales have provided states with legal marijuana markets more than $10 billion in tax revenue.

The Marijuana Policy Project report states that since Colorado and Washington state sanctioned recreational cannabis sales in 2012, a wave of cannabis reform has swept across the country. By December 2021, 18 states in total had legalized adult-use cannabis and earned a whopping $10.4 billion in tax from cannabis sales. Since most marijuana reform laws had a strong emphasis on social equity, a significant portion of the billions of tax dollars has been used to fund various social equity programs, the report says.

According to Karen O’Keefe, the director of state policies at Marijuana Policy Project, the states that chose to legalize recreational cannabis have reaped “significant economic benefits” from the controversial but in-demand plant. The tax revenue from cannabis sales has been used to fund several public services, including ones meant to reinvest in communities that were disproportionately affected by the war on drugs. Compared to the decades-long drug war, which cost taxpayers billions of dollars per year, cannabis reform is actually pouring money back into the community, especially for the most disadvantaged ones.

The drug war was ostensibly started to address drug abuse rates and defund the criminal enterprises behind the drug trade, but after decades of intense policing and harsh sentencing, Black and Latino communities around the country were left decimated. Most states with legal cannabis markets have earmarked funds from marijuana taxes to help address this damage. Alaska, for instance, directs half of its recreational cannabis sales taxes to the Recidivism Reduction Fund as well as reentry programs for current and former convicts.

In California, more than $100 million in cannabis sales taxes have been dispensed to nonprofit and community groups that aid individuals who were negatively affected by the drug war. The state, which collected around $817 million in cannabis sales revenue in the fiscal year 2020­–21, announced last year that it would provide grants worth $29 million to 58 organizations to help alleviate the effects of the failed drug war. Colorado has invested almost $500 million in the public school system while Illinois is spending a portion of its cannabis tax revenue on much-needed mental health services.

These huge numbers with respect to the taxes and fees that states have collected from the marijuana industry are a reflection of how quickly sector players such as American Cannabis Partners have scaled their operations so as to meet the growing demand for legally sourced cannabis products.

NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://cnw.fm/ACP

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – Alternative Products Expo Announces March Debut with Thousands of Products Under One Roof

The first Alternative Products Expo of 2022 will be held March 11–13, 2022, at the Broward County Convention Center in Ft. Lauderdale, Florida. Formerly known as the USA CBD Expo, the Alternative Products Expo features more than 50 expert speakers and insightful presentations, as well as more than 300 vendors providing a look at thousands of alternative products. Presented by 3Chi, the nation’s largest CBN and Delta-8 distributor, the upcoming expo builds on the foundation established by the USA CBD Expo, which had grown to become North America’s largest CBD-focused event. The new event has added a more comprehensive overview into the alternative product ecosystem and includes a focus on products such as functional beverages, cannabis derivatives, vape products, mood enhancers, herbal products, energy boost supplements and dietary supplements. The expo is a must-attend event for both industry newcomers and professionals with educational seminars, keynote addresses, workshops and networking opportunities.

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About Alternative Products Expo

The USA CBD Expo is rebranding as the Alternative Products Expo to better reflect the variety of exhibitors on the trade show’s floor. The Alternative Products Expo, or AltPro Expo, was created with the idea of bringing together an assortment of industries and the disruptive products and services all under one roof. For more information about the company, visit www.AltProExpo.com 

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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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